The Romanian portfolio is one of the largest retail real estate portfolios in the country, encompassing 24 retail parks with a gross leasable area of 132,000 sqm. The entire portfolio was developed, built, and managed to a high standard by Mitiska REIM and its Romanian country partner, Square 7 Properties over the past 10 years. 

Proceeds of the financing will be used to fund the completion of a new retail park under construction in Baia Mare, extension development projects for existing retail parks in Tulcea, Slatina, and Mediaş, and provide liquidity to the shareholders of the SPVs after having funded the growth of the portfolio. 

“All the retail parks in the Romanian portfolio have been developed on strategic urban infill locations, along the main traffic arteries of the cities in which they are built and always within walking distance of large residential or office areas, making them a ‘go to’ destination for daily convenience shopping. We believe the targeted locations, diversified tenant mix, and sustainable approach, in combination with the positive socio-economic trends in Romania, will continue to drive future growth opportunities across the portfolio”, says Axel Despriet, Co-CEO of Mitiska REIM.

The company raised in eight years two closed-ended funds (FRI and FRI 2) and built a portfolio of more than 70 properties representing over 700,000 sqm GLA across 11 countries (Belgium, The Netherlands, France, Germany, Spain, Portugal, Romania, Poland, Czech Republic, Slovakia, and Serbia).